Adani Enterprises Launches Major Rights Issue At Discount To Boost Infrastructure Expansion

Adani Enterprises Ltd (AEL) opened subscriptions for its ₹24,930-crore rights issue on Tuesday, marking one of the most substantial capital-raising exercises in the country’s corporate landscape.

The offer, priced at ₹1,800 per share, represents an approximate 24 per cent discount and is available to all eligible shareholders until December 10.

Promoters, who currently hold nearly 74 per cent of the company, have confirmed their participation. At the announced issue price, the company’s valuation stands close to ₹2 lakh crore.

AEL, the flagship of the Adani Group and operator of India’s largest airport network, continues to draw strong market interest.

Analysts estimate the value of its airport portfolio at between ₹2 lakh crore and ₹2.5 lakh crore, with some projections placing it as high as ₹3 lakh crore.

The board had earlier approved the issuance of 13.85 crore partly paid-up shares, aiming to strengthen the firm’s overall capital position.

AEL is offering the rights shares in the ratio of three shares for every 25 fully paid-up shares held on the record date.

Funds to Support Next-Generation Infrastructure Projects

AEL will direct the proceeds from the rights issue towards a wide range of emerging and capital-intensive ventures.

These include airports, data centres, green hydrogen, road development, PVC and copper smelting facilities, and new initiatives in metals, mining, digital and media sectors.

Part of the funds will also be utilised to retire existing debt.

AEL expects the proposed issuance of 13,85,01,687 new shares to expand its equity base by around 12 per cent, raising the total number of outstanding shares to more than 129 crore.

The broader Adani Portfolio delivered robust results in the first half of FY26, registering capital expenditure of ₹67,870 crore ($7.6 billion). EBITDA rose to a record ₹47,375 crore ($5.3 billion), reflecting the group’s ongoing expansion across its core and emerging businesses.

AEL stated that the rights issue will further ‘strengthen the balance sheet and support the next phase of incubation’ as its infrastructure ventures continue scaling and contributing more significantly to overall earnings.

Also Read: Markets Open On A Muted Note; Sensex, Nifty Trade Flat